Block Moulders Association Reveals What FG Must Do To Reduce The Price Of Cement In Nigeria | Prestige Real Estate News
Block Moulders Association Reveals What FG Must Do To Reduce The Price Of Cement In Nigeria
The National Association of Block Moulders of Nigeria (NABMON) has called on the Federal Government to reduce import duties on cement manufacturing components to attract more foreign investment in the sector.
The Association advised the government to reduce the import duties on the components used in manufacturing cement and also invite more global investors into the sector so that the market can determine fair prices.
The National President, NABMON, Adesegun Banjoko made the call in a statement issued on Monday in Lagos.
Banjoko lamented that the present price of one bag of cement in Nigeria, currently in the region of N7,000 and N8,000 was still considered too expensive.
He noted that the threat by the government to open the borders and increase the supply of cement has also not brought down the prices.
“Of recent, the issue of our key raw material, cement, attracted front burner attention nationwide, and the dust is yet to finally settle as far as we are concerned because the N7000 to N8000 offer is still on the high side.
“The government has threatened to open the borders to increase supply.
“Please also reduce import duties on imported components for manufacturing cement and also invite more global investors into the sector so that ‘the market can determine fair prices”, he said.
The NABMON president also urged the government to discourage cement smuggling to neighbouring countries.
He said that Nigeria has a larger population and presumably a higher demand for cement, yet it lags behind South Africa in production facilities.
“South Africa, with a population of 60million, has 15 cement factories, and Nigeria with a population three times larger has only three cement factories, then there is still much work to be done,” he added.
Banjoko, therefore, expressed optimism that ongoing research efforts would find alternative materials for cement production in Nigeria.
“It is, however, heart-warming to our awareness that all hands are currently on deck at our research institutes and universities on cement innovations research.
“This is with a view to finding locally sourced alternative materials for cheaper, quality cement and even other building materials“, he said.
